Nvidia's rapid growth fuels high pressure and long work hours for its employees
In Santa Clara, California, parking spots that were once used by more reasonably priced cars are now filled by a range of luxury vehicles, such as Lamborghinis, Corvettes, and Porsches and a few have been repainted in the lime green found in the Nvidia Corp. logo, it’s because Nvidia workers who worked in technical support for enterprise clients claimed they were expected to work seven days a week, frequently until one or two in the morning, they are stuck where their owners want to be: at the office.
The 31-year-old chipmaker, Nvidia has increased its market capitalization faster than any other firm in history. Founder and CEO Jensen Huang has set expectations of scrappiness and overwork, with a chaotic organization in which one boss can have dozens of direct reports, according to current and former employees. Huang has stated that instead of firing staff, like his competitors do, he prefers to "torture them into greatness." One former employee, who worked in technical assistance for enterprise clients, stated that he was asked to work seven days a week, often until 1 or 2 a.m. He stated that many of his former colleagues, particularly those on technical teams, worked longer hours.
Nvidia stock has increased by 3,776% since the beginning of 2019, as the company benefits from selling the key chip required for artificial intelligence development, creating many new multimillionaires in the process. However, present and former employees reported that the work hours are just as demanding and stressful, leaving little time for the jet-setting, home-buying, and leisure activities that many can now afford. A culture problem is growing, according to the ten persons who asked not to be named for fear of repercussions.
He called the workplace a "pressure cooker," citing multiple meetings that he characterized as screaming altercations, but he added that it was difficult to quit because of the compensation package. He left the company in May and asked to remain anonymous in order to talk openly about it."
Another, who asked anonymity to safeguard her job and worked in marketing until 2022, claimed she frequently attended seven to ten meetings a day, each involving over thirty people and frequently interspersed them with arguments and yelling. However, she claimed that the chance for even greater riches—the "golden handcuffs"—made her put up with it for two years. In part because its stock grants usually vest, or become accessible, over a four-year period, Nvidia hasn't had any issue keeping its employees during the past several years. This gives employees an incentive to stay and achieve their full pay package. According to the company's 2024 sustainability report, staff turnover decreased by almost half, to 2.7%, from 5.3% in 2023 when its valuation surpassed $1 trillion. Nvidia claims that the turnover rate in the semiconductor sector as a whole is 17.7%, which is far higher.
Hollywood mocked the computer sector cliché of "resting and vesting" in HBO's "Silicon Valley" series, which features a character who wastes time sipping large sodas and playing video games while waiting for his stock to vest. But at Nvidia, it isn't functional. According to a current employee, coasting would be awkward and even challenging in social situations.
Individuals who tried are now the focus of internal criticism. According to a former employee who was present at the discussion, employees complained to Huang at a late-year staff meeting about several of their coworkers going into "semiretirement" mode.
According to a former engineer who left the company in June, those who had worked there for over ten years would have more than enough money to retire. However, a lot of people don't because millions more will be waiting for the next stock grant to vest, the source continued.
Many Nvidia employees have larger nest eggs than their counterparts at other chipmakers, thanks to the remarkable surge in the company's shares. Colette Kress, the Chief Financial Officer, joined the firm eleven years ago and has around $758.7 million worth of equity. Her colleague Dave Zinsner of Intel Corp., who has a shorter tenure but a greater compensation package, owns stock valued at just $3.13 million. CFO Jean Hu joined Advanced Micro Devices Inc. in 2023 and holds $6.43 million worth of stock. Advanced Micro Devices Inc. is Nvidia's closest competition and has also experienced strong share growth.
According to the anonymous former engineering employee, working at Nvidia in 2023 and 2024 would mean regularly running into people with almost every seniority level expressing their wealth. He claimed to frequently witness colleagues browsing Zillow and casually mentioning new vacation properties. He continued by saying that it's now typical for workers to go to expensive athletic events, such as the NBA Finals and the Super Bowl.
Employees at Nvidia who contribute to the purchase plan have large budgets."It's just very surprising how much money they have in one stock," said Palo Alto, California-based real estate agent Spencer Hsu, who has dealt with several Nvidia employees this year, including on the weekends and after work. Clients are purchasing multibillion dollar properties with down payments ranging from 40% to 60%.
According to several of the recently departed employees, lunchtime conversations revolve around Nvidia's daily market gain or loss (but mainly gain). Thousands of workers are sharing financial advice on a business Slack channel, according to a current Nvidia product manager. The target audience for the organization is employees who have retained their vested shares, rather than the numerous others who sold off a significant portion of their stock well before its peak.
It goes beyond financial gain. Having worked at the chipmaker from 2020 to 2023, Airan Junior remarked that "working at Nvidia is like Disneyland" due to the several teams tackling intriguing technical challenges. Working on a Brazilian-based sales team, he said that the company's unusual culture played a major role in its enormous success. Over 90% of revenues in the AI chip market are currently held by Nvidia.
Huang does not have time for one-on-one meetings, lengthy PowerPoint presentations, or bureaucracy because he oversees 60 direct reports. He will get involved in what seem to be small decisions, like selecting a picture for a promotional campaign. Huang is renowned for requiring Nvidia staff members to submit a bulleted list of the five projects they are working on via email on a daily basis to a single email address. Huang occasionally replies to these emails directly to request additional information or to give instructions.
Having faced "real adversity" while leading Nvidia for more than three decades, according to Huang, has influenced his style of leadership. He claims to be encouraging his staff to complete their life's job. In a recent interview with 60 Minutes, Huang described his strict management approach as "it should be like that." "If you want to do extraordinary things, it shouldn't be easy."
It seems that most workers are in favor of Huang's unconventional management approach. Compared to his colleagues at Alphabet Inc. (94%), Apple Inc. (87%), Meta Platforms Inc. (66%) and Amazon.com Inc. (54%), he has a higher approval rating on Glassdoor (97%).
However, the former marketing staff member cautioned that Huang's flat organizational style occasionally performs differently than anticipated. According to her observations, employees are more motivated to compete with Huang for his attention than to cooperate for Nvidia's long-term prosperity as a result of the organizational structure of the company. Huang's subordinates follow the same hierarchy; according to the ex-technical support staff member, his supervisor had over 100 direct reports.
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AIADMK-BJP alliance doomed to fail, says TN CM Stalin
Chennai, Apr 12 (PTI): Tamil Nadu Chief Minister M K Stalin on Saturday said "hunger for power" is the reason for the alliance between the AIADMK and BJP and the tie-up is against ideals such as protection of state rights and it is doomed to fail.
Stalin, reacting to the announcement of an alliance between the state's main opposition party and the national party that helms the Centre, said that the AIADMK claims to oppose NEET, the imposition of Hindi, the three-language policy and the Waqf Act and also say that Tamil Nadu’s representation should not be reduced during delimitation.
"Are all these part of the Common Minimum Programme?", he asked. Union Home Minister Amit Shah, however, did not speak about any of these. Nor did he allow the AIADMK leadership to speak. Instead, Stalin said Shah used the press conference only to criticize his party, the DMK, the DMK government and him.
The chief minister said: "The AIADMK-BJP alliance is doomed to fail. It was the people of Tamil Nadu who handed repeated defeats to this coalition. Now, Shah has reconstituted the same failed alliance."
Stalin said Shah failed to state on what ideological foundation the alliance was formed. Instead, he merely assured that a Common Minimum Programme would be worked out.
Further, he said: "The Dravida Munnetra Kazhagam is a movement that stands to protect state rights, linguistic rights, and Tamil culture. In contrast, the BJP-AIADMK alliance has been formed with a hunger for power and stands against all these ideals. People have not forgotten that Edappadi Palaniswami, in his thirst for power, mortgaged Tamil Nadu’s dignity and rights with Delhi and brought ruin to the state."
The Dravidian party chief said when Shah spoke about corruption while confirming an alliance with AIADMK, the people of Tamil Nadu "would certainly have laughed."
Former Chief Minister J Jayalalithaa had to step down twice due to corruption charges and she was sentenced to four years imprisonment in the disproportionate assets case by a special court in Bengaluru after years of legal proceedings. If the BJP forms an alliance with her party, can it still speak credibly about corruption,? Stalin demanded to know. It should not be forgotten that the AIADMK functionaries and their relatives were subjected to "two raids" by central investigating agencies.
"To escape the consequences, they ran towards the BJP leadership. The alliance was confirmed based on this compromise. The people of Tamil Nadu are not naive — they know that corruption is the very basis of the AIADMK-BJP alliance. Those who pledged AIADMK out of fear of two raids are now eager to mortgage the entire Tamil Nadu," the DMK president alleged. The alliance between the AIADMK and BJP is a failure alliance and the tie-up is a "corruption", by itself.
Stalin alleged that the BJP leadership has a calculated plan to eradicate Tamil through Hindi imposition, to block Tamil people’s progress through various conspiracies, and to undermine Tamil Nadu’s rights through constituency delimitation.
The AIADMK, "an old bonded slave camp," which has long surrendered itself, is being coerced by threats by the BJP to implement these conspiracies.
Stalin said: "Whether the BJP comes alone or with partners, the people of Tamil Nadu are ready to deliver a fitting lesson. To the traitorous alliance that kneels in Delhi without self-respect and tries to pawn Tamil Nadu, the people will give the right response."
When repeatedly questioned by journalists about NEET, the Union Home Minister was unable to provide a proper response, the chief minister claimed adding if Shah believed NEET was right, he should have defended that position clearly. Instead, Shah tried to "deflect" by claiming that opposing NEET was a diversionary tactic.
Stalin condemned Shah for "irresponsibly claiming that law and order has deteriorated in Tamil Nadu."
The chief minister said: "This is not Manipur — this is Tamil Nadu. The BJP ruled over a state where more than 250 people were killed in the past 18 months. The Union Home Minister who failed to restore peace there now seeks to disturb peace in a peaceful state like Tamil Nadu.
"It is precisely because of the law and order maintained here that the state continues to progress in all aspects — a fact confirmed even by union government statistics. Yet, the Union Home Minister irresponsibly tried to incite fear by claiming a breakdown of law and order."
